jbwent63
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Posts posted by jbwent63
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16 hours ago, nwoodman said:
....just not this decade.
+1
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17 hours ago, widenthemoat said:
Question for the board on the BRK 10-Q: Does anyone know where the interest/dividend/other income for the non-insurance related investments gets picked up in the "Business segment data (Note 23)"? For example, interest/dividend/other income per Note 23 is $2,284 on insurance investments of $395,260. Compare this to interest/dividend/other income of $2,861 from the income statement on balance sheet investments of $450,135 (Cash: $26,534, T-Bills: $74,803, Fixed maturity securities: $21,136, Equity securities: $327,662).
Thanks in advance.
My guess, and its only a guess, is that the $2,861 includes the $2,284 plus the equity income from KraftHeinz, Pilot, Berkadia etc, but also note that the amount is Insurance and Other. There may be some investment income earned in the Other units (MSR for example), which are immaterial and therefore not disclosed. It would be helpful if there was a reconciliation somewhere in the report for sure.
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When all the regulatory filings come out, it will be interesting to see if an independant valuator provided an opinion on the transaction from the minority shareholders' perspective. That's a report I would like to read.
Yes, its opportunistic, but is it really? If the stock is languishing in the $11 range, and has been for some time, isnt a >$14 offer a win for the minority shareholders? There's thousands of other options to invest your money, and those of us who own FFH hope you decide to stay as indirect owners of ATCO.
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2 hours ago, newtovalue said:
Question - now that BRK owns more than 20% of AXP - does it change the reporting to Equity Method? If that is the case - should we see a boost in operating earnings as BRK can now recognize 20% of AXPs earnings.
I understand this doesn't change anything economically - more just curious about the mechanics.ty!
My understanding is that the 20% threshold is just a guideline at which one would consider equity accounting. Given the size of AXP, and BRK's lack of influence over it (not involved in day-to-day decisions, board members etc.) I would not think that the equity method would apply at this level of ownership.
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On 6/26/2022 at 5:10 AM, Parsad said:
There is an easy solution. Berkshire should just buy Markel and make Tom Gaynor vice-president of insurance operations and president of portfolio management, while Ajit Jain is president of insurance operations and Greg Abel is president of non-insurance operations.
Gaynor has worked in a co-leader position and is a terrific investor and insurance manager. Abel is presently working as a co-leader with Buffett, and then would not have to worry about float, insurance or portfolio management if something happened to Warren and Ajit. The two T's probably know Gaynor well, and would fit in nicely as a team. Ajit already knows Markel and Gaynor, and Ajit's lack of ego would be a good environment for Gaynor. And Gaynor's better at risk management than say the likes of Joe Brandon at Alleghany or many of the other Berkshire insurance subs other than National Indemnity.
Cheers!
Yes yes yes.
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9 hours ago, r.ph.schaefer said:
"Buffett also said at the meeting that Berkshire had bought shares in three German companies in the first quarter, but didn’t disclose the names."
Any ideas what stocks these might be? I know, it's just speculation at this point...
Hopefully gfp will post the quarterly report from NICO that might provide some of these answers for stocks that are not required to be reported to the SEC on form13-F.
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Hopefully we get some comments or questions about this specifically. Would be interesting to hear Ajit's take on your comment above relating to hard market/premium growth.
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GEICO underwriting result very disappointing. Otherwise a good quarter.
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14 hours ago, Poor Charlie said:
Suprised Buffett never pushed for a deal-break fee. They're effectively giving Alleghany a free put option until the shareholder vote.
I don't expect this deal to close. It's like Buffett wants Berkshire to be the stalking horse for an Alleghany auction.
No break fee gave the offer more weight in the eyes of the board and GS. It also seems consistent with the knowledge that BH will not engage in an auction. Take it or leave it. Minimal costs incurred by BH (I hope WEB didn't pay for dinner!!!). Allegheny attempted to get a better deal but was denied by WEB. It shows how nimble this company and its advisors are. I would be surprised to see a superior offer.
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23 hours ago, RadMan24 said:
Are the ESG folks really this lazy they can't delve into the facts of Berkshire Hathaway and understand that its a climate leader rather than a laggard? https://www.ft.com/content/9ed603c4-ecbb-4181-a78b-f3b9f16703a8
Iowa customers have some of the cheapest energy in the country, and in a few years, will get all of its electricity from wind, with coal as a backstop. Coal will be out of the BHE system by 2049 and nat gas will be down to a trickle by 2050. Berkshire is the largest investor owned utility with renewable infrastructure. BNSF and BHE disclose Scope 1 and 2 emission reduction goals and both are evaluating how to get to a net zero pathway by 2050.
Yet, these ESG providers don't look under the hood and have started influenced passive investor voting decisions. For Berkshire this won't matter much for now, but this is poor accountability.
They probably don't know that BHE files its own 10-K with all kinds of disclosure as if it is a stand alone business (same with BNSF).
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5Paisa Capital Limited shares popped over 19% overnight. I haven't been able to find any company news to explain such a move. Does anyone have any insight? Is it related to the IIFL possible sale news? Thanks.
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2 hours ago, Spekulatius said:
Any risk due to the Ukraine invasion hiding somewhere within insurers? I don’t think much insurance was written in Ukraine, but business interruption insurance or is insurance for stranded assets like AER planes could require some payouts.
Thats not a BRK specific problem, but I think BRK due to their size may see some of this.
I'd like to hope war exclusion policy wording would provide some cover for this, but its possible there could be some reinsurance exposure through London markets.
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Now over 91 million shares plus the warrants. Warren was busy this week!
https://www.sec.gov/Archives/edgar/data/797468/000089924322009579/xslF345X03/doc4.xml
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Hey all, first time poster here. The folks at Dataroma do not distinguish between shares held by Berkshire Hathaway or its subsidiaries and the shares held in the Pension funds, which is the reason for the differences. The pension plans hold shares in the following I believe:
BK, DVA, GM, KHC, KR, LILA, LSXMK, RH, STOR, USB, VRSN.
Also, don't forget about the shares held in Berkshire's name at NEAM, being:
AAPL, BAC, BK, DEO, USB
Happy to hear if any of this is incorrect. All information from 13-F and Schedule 13 D or G filings and amendments.
Jeff
Buffett/Berkshire - general news
in Berkshire Hathaway
Posted
There are so many things the press either gets wrong or is too lazy to figure out. Just another example of spending a little time, understanding how the rules work, and reporting proper information. It's unfortunate that the sale had to be telegraphed, and the value dropped so much as a result, but the gain is still huge and a big win for BHE.